OncoVent Co., Ltd., a majority-controlled subsidiary of Shenzhen Hepalink Pharmaceutical Group Co., Ltd., entered into a license agreement with Orient EuroPharma Co., Ltd. (OEP) granting OEP exclusive rights to the commercialization of oregovomab, an immunotherapy drug candidate, in Taiwan, including related regulatory applications and necessary clinical trials.

OncoVent is entitled to a number of payments from OEP under the license agreement, including an upfront payment, multiple regulatory milestones and commercial milestones, in a total transaction amount of up to $11.2 million. OEP also agreed to purchase oregovomab from OncoVent at a price equal to an agreed percentage to the average sale price of oregovomab in Taiwan.

OEP has the right of first refusal for the exclusive sales, marketing, and distribution right in Hong Kong and Macau.

Calvin Tsai, CEO of OEP, said, “We have been actively expanding our oncology portfolio through R&D collaborations and in-licensing, in order to address unmet medical needs in a broad range of tumor types and bring renewed hope to cancer patients in the Asia Pacific region. 

OncoVent, possesses a monoclonal antibody (mAb) technology platform and advanced biotechnologies for the development of oncotherapeutic vaccines and immuno-oncologic combination therapies.

“It is our pleasure to enter into this collaboration. We believe oregovomab can potentially improve the treatment outcomes for patients with advanced primary ovarian cancer. This collaboration with OncoVent not only strengthens our oncology portfolio, but also serves our overarching objective of advancing oncologic therapeutics,” Tsai said.

Tao Han, chief business officer of Shenzhen Hepalink Pharmaceutical Group Co., Ltd. and CEO of OncoVent Co., Ltd, said: “Having established itself in the oncology field for over 20 years, OEP is a multinational pharmaceutical company with integrated capabilities in R&D, manufacturing and commercialization, as well as a highly experienced team in the Asia Pacific region. We are glad to have entered into this strategic agreement with OEP as it will allow us to jointly develop and commercialize oregovomab, a candidate drug with promising therapeutic potential, and explore the drug’s additional therapeutic utility for a broader population of cancer patients.”

Oregovomab, a murine monoclonal antibody and a first-in-class anti-CA125 immunotherapy drug candidate, is currently being evaluated in a global Phase III trial using study drugs produced by Cytovance Biologics Inc, a wholly owned subsidiary of the company and a contract development and manufacturing organization (CDMO) serving the biopharmaceutical industry.

Prior to this, a Phase II clinical study of oregovomab in combination with standard chemotherapy for the first-line treatment of patients with advanced primary ovarian cancer was completed. A Phase III clinical trial of oregovomab in the U.S. is onging. To date, the Phase III trial of oregovomab has enrolled 534 subjects globally.